The news that we should pay attention to is that we are not anywhere near the bottom of this recession. Talk of green shoots are just that.
The recent news from Diageo and BVT regarding the remains of our ship building is just a fraction of what we are about to endure. The political point scoring by that dribbling idiot Des Brown on the Kilmarnock plant of Johhny Walker is breathtaking, and shows the level this debate is at in the UK government. This is all about New Labours survival, any straw must be grasped now to try and discredit the SNP. New Labour never have and never will give a toss regarding Scottish unemployment or health. What they care passionately about is New Labour and the survival of their gravy train. They still do not get it.
There is now no shadow of doubt in my mind. Scotland is about to be dealt several death blows in rapid succesion in order to teach us a lesson we will never forget. We must therefore ensure the prosperity of our country. I would much rather be poor in an independent Scotland than poor in the UK where we are at the end of the line and regarded as sponging whingers by this racist bigoted union.
The only hope left now for Scotland is to break free of the UK as soon as possible. The SNP must push forward their agenda and get this bloody referendum done and dusted, the Scottish people want it.
California’s fiscal disaster is about to create massive volatility in the stock and bond markets — and very substantial profit opportunities for you ...
Especially if you have the right tools for TIMING your investment decisions for maximum profit potential with reduced risk.
In our history-making online briefing, we reveal the missing piece of the market timing puzzle that could help you turn this crisis into money in the bank; and the video is now available for your immediate download.
“As California goes, so goes America.”
California has a GDP of $1.8 trillion, larger than the economies of Russia, Brazil, Canada and India.
It’s America’s most populous state with 38 million people.
And it’s in the final throes of financial death — bankruptcy. In Governor Schwarzenegger’s own words, “Our wallet is empty. Our bank is closed. And our credit is dried up.”
Yesterday, the Golden State had no choice but to begin paying its bills with i.o.u.’s.
And now, Moody’s and S&P are watching from the sidelines, poised to downgrade the state’s bonds by several notches to junk status in one fell swoop — a move that’s going to crush the tax-exempt bond market and could send stocks off the proverbial cliff.
We have done everything in our power to warn you that this shoe was about to drop — and the national media is taking notice. I think you should too.
My main point to Fortune: California is facing a $24 billion budget gap with no obvious way to close it. The state has appealed to Washington for a federal bailout, but it has gotten the cold shoulder from the Obama administration. Next, expect draconian cuts that will merely deepen California’s depression and cause a rash of ratings downgrades.
Now, this morning, The New York Times has also picked up my warnings under the headline “California I.O.U.’s Add to Bondholers’ Worries.” My key comment: If the state can stiff its commercial creditors with i.o.u.’s, what’s to prevent it from stiffing bond investors in the future?
Massive volatility ahead!
The sad fact is, California could be just the first domino to fall in an avalanche of downgrades and defaults among cities, counties and states from coast to coast.
The likely consequences: Chaos in the bond markets ... wild swings in stocks ... and very substantial profit opportunities for investors who have a good handle on TIMING these swings — when to buy and when to sell to maximize their profits while reducing their risk of loss.
Good luck and God bless!
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